British Wool has reported the highest market prices for wool in four years.

British Wool’s auction prices have increased by 20% since the start of the season, equating to an average improvement of 17p per kilo which amounts to approximately 40p per fleece, indicating a strengthening of the market..

British Wool’s CEO, Andrew Hogley, said: “It’s encouraging to see the market strengthening and prices improving. Since the start of the season, prices for British Wool have increased by 20%. Average prices for 2024 season wool have increased for every core grade of British Wool.”

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“The team has been working on a number of initiatives to support demand for British wool and deliver better prices. In addition, the tests we run on each sale lot confirm that the wool this season has higher yields.

“The incessant rain over the last year means that there is less dirt and grease in each fleece. This is also helping to support improved prices.”

The organisation has been working with manufacturers to strengthen demand for wool to deliver better wool prices for sheep farmers and has acquired more than 160 brand partners on its licensee scheme.

The scheme traces the wool being used throughout the supply chain to ensure manufacturers are using a high volume of native wool in their products.

Nexgen Tree Shelters also received investment from the organisation, which it uses to produce biodegradable wool based tree shelters, helping drive further demand for mountain wools while reducing single use plastic substitutes.

The organisation has also launched a Shaun the Sheep marketing campaign targeting 2,000 UK carpet retailers to promote the use of indigenous wool in this industry.

873 shearers and wool handlers have been trained on British Wool’s courses this year with almost 700 being awarded a blue, bronxe, silver or gold seal of quality.

“With the initiatives we have in place, and feedback from the market, we are confident the recent price gains are sustainable. Prices need to increase further, but this is a positive step in the right direction.

“Our depots and drop off sites remain open and ready to receive wool,” Hogley said.